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Stories tagged: federal reserve

UPDATED: Fri., Feb. 2, 2018

Fed halts Wells Fargo growth until bank improves internal controls

The Federal Reserve announced Friday it is imposing more penalties on Wells Fargo, freezing the bank’s growth until it can prove it has improved its internal controls. In addition, the …

Yellen lands new job at Brookings Institution

Federal Reserve Chair Janet Yellen, the first woman to head the nation’s central bank, got a boisterous send-off from Fed staff, but she isn’t taking any time off. After her …

UPDATED: Fri., Feb. 2, 2018

Wages up by most in 8 years as U.S. adds a robust 200K jobs

U.S. employers added a robust 200,000 jobs in January, and wages rose at the fastest pace in more than eight years, encouraging trends that suggest that the economy may accelerate …

Five things: What Yellen’s Fed tenure will be remembered for

As Jerome Powell prepares to succeed Yellen as leader of the U.S. central bank, here are five areas in which Yellen’s era at the Fed will be remembered.

Fed leaves key rate unchanged at Yellen’s final meeting

The Federal Reserve has left its benchmark interest rate unchanged but signaled that it expects to resume raising rates gradually to reflect a healthy job market and economy.

UPDATED: Mon., Jan. 29, 2018

Fed likely to hold rates steady at Yellen’s final meeting

Janet Yellen’s final Federal Reserve policy meeting will likely bring an uneventful end this week to her four-year tenure as Fed chair but perhaps offer hints of the central bank’s …

Senate approves Powell to follow Yellen as Fed chair in Feb.

The Senate on Tuesday approved President Donald Trump’s selection of Jerome Powell to be the next chairman of the Federal Reserve beginning next month.

UPDATED: Fri., Jan. 19, 2018

Quarles lays out road map for bank regulations

The Federal Reserve’s top official on financial regulation is putting forward a wide-ranging agenda for improving the way the nation’s banks are regulated, saying he wants to focus on “efficiency, …

UPDATED: Wed., Jan. 17, 2018

Senate committee approves nomination of Powell for Fed chair

The Senate Banking Committee has voted for a second time to approve President Donald Trump’s nomination of Jerome Powell to be the next chairman of the Federal Reserve.

Robert J. Samuelson: Does the Fed need a new playbook?

The dirty secret of economics is how much economists don’t know. Their ignorance is increasingly relevant, because there is growing agitation among economists to stage a grand debate over the …

Core inflation jumped a sharp 0.3 percent in December

Overall U.S. consumer prices rose a scant 0.1 percent in December, slowed by falling energy prices. But a closely watched gauge called core inflation – which excludes the volatile categories …

Fed projects $80.2 billion payment to Treasury for 2017

The Federal Reserve said Wednesday the payments it will make to the federal government based on its 2017 operations will drop to $80.2 billion, down 12.3 percent from 2016.

Robert J. Samuelson: Yellen deserves credit for economy’s success

One of Washington’s permanent parlor games is how much credit or blame a president deserves for the state of the economy. Inevitably, then, the question being asked now is whether …

Federal regulators approve ‘living wills’ for eight large banks

Federal regulators on Tuesday announced they had approved the disaster plans for the nation’s eight largest and most complex banks outlining the strategies they would deploy if they fell into …

Quarles recuses himself from Wells Fargo matters

Randal Quarles, who is vice chairman for supervision at the Federal Reserve, says he will recuse himself from participating in matters specific to Wells Fargo & Co.

UPDATED: Wed., Dec. 13, 2017

Fed rate increase is third this year; foresees three more in 2018

The Federal Reserve is raising its key interest rate for the third time this year and foresees three additional increases in 2018, a vote of confidence that the U.S. economy …

UPDATED: Mon., Dec. 11, 2017

Fed set to raise rates as Yellen gives final news conference

Investors seem certain about this: The Federal Reserve is going to raise interest rates this week for the third time this year.

Senate panel approves Jerome Powell as Fed chairman

The Senate Banking Committee on Tuesday approved President Donald Trump’s selection of Jerome Powell to be the next chairman of the Federal Reserve.

UPDATED: Wed., Nov. 29, 2017

U.S. economy expanded at brisk 3.3 percent pace in third quarter

Led by a rise in business investment, the U.S. economy grew at an annual pace of 3.3 percent from July through September, its fastest rate in three years.

UPDATED: Wed., Nov. 29, 2017

Yellen suggests a continuation of gradual rate hikes

Federal Reserve Chair Janet Yellen said Wednesday that the Fed expects to continue raising interest rates gradually. And she sought to assure lawmakers that the Fed would take care not …

Powell casts himself as a figure of stability for the Fed

Jerome Powell says that if confirmed as the next chairman of the Federal Reserve, he expects the Fed to continue raising interest rates gradually to support its twin goals of …

Samuelson: Absent politics, Powell at Fed is fine

It will be Powell’s Fed. Assuming he’s confirmed by the Senate, Jerome (“Jay”) Powell will become the 16th chairman of the Federal Reserve Board in early 2018. Almost by definition, …

UPDATED: Thu., Nov. 2, 2017

Trump nominates Jerome Powell to be next Fed chairman

President Donald Trump on Thursday announced his choice of Federal Reserve board member Jerome Powell to be the next chairman of the nation’s central bank, succeeding Janet Yellen, the first …

UPDATED: Wed., Nov. 1, 2017

Fed leaves key rate unchanged but hints at future hikes

With a new Federal Reserve leader about to be announced, the Fed is keeping its key interest rate unchanged. It also hints that it’s preparing to resume raising rates as …

Administration official: Powell top candidate for Fed chair

Jerome “Jay” Powell, a member of the Federal Reserve’s board, is President Donald Trump’s leading candidate to replace Janet Yellen as the head of the nation’s central bank, with an …

Fed debated mystery of persistently low inflation

Federal Reserve officials at their September meeting struggled to come to terms with persistently low inflation. But in the end, they decided that they should continue to signal the possibility …

Senate confirms Trump pick to serve on Federal Reserve

The Senate has confirmed President Donald Trump’s nomination of Randal Quarles to serve on the Federal Reserve, the first step in the Republican’s efforts to remake the nation’s powerful central …

UPDATED: Wed., Oct. 4, 2017

Yellen: Fed committed to easing regulations on smaller banks

Federal Reserve Chair Janet Yellen says the Fed is committed to making sure that the regulations it imposes on the nation’s community banks are not unduly burdensome, noting a proposed …

UPDATED: Wed., Sept. 27, 2017

U.S. middle class gets richer, but wealthy do even better

Most American families grew richer between 2013 and 2016, but the wealthiest households pulled even further ahead, worsening the nation’s massive disparities in wealth and income.

Yellen: Fed perplexed by chronically low inflation

Speaking to a conference of economists, Federal Reserve Chair Janet Yellen touched upon key questions the Fed is confronting as it tries to determine why inflation has remained chronically below …